A U.S.-based clean fuel startup, Koloma, backed by prominent investors including Bill Gates and Jeff Bezos, is spearheading a global initiative to explore buried hydrogen resources. This venture is gaining traction as interest in geologic hydrogen—also referred to as white, gold, or natural hydrogen—grows due to its potential role in the transition away from fossil fuels.
Geologic hydrogen is found in its natural state beneath the Earth’s surface, believed to form through high-temperature reactions between water and iron-rich minerals. Pete Johnson, CEO and co-founder of Koloma, emphasizes that the company aims to leverage expertise from the oil, gas, and mining industries to accelerate the discovery and production of this carbon-free resource. “We can adapt existing capabilities to mature the industry faster,” he stated.
Since its founding, Koloma has raised over $305 million, with significant backing from investors such as Khosla Ventures and Amazon’s Climate Pledge Fund. This financial support positions Koloma as a leader in the burgeoning field of natural hydrogen exploration, which analysts at Rystad Energy have dubbed a “white gold rush.” The excitement surrounding this resource stems from its potential to be a gamechanger in the energy transition, with exploratory efforts currently underway in countries including the U.S., Canada, Australia, and several European nations.
Johnson notes that geologic hydrogen offers intrinsic benefits as a primary energy source, boasting a low carbon impact and minimal land and water usage. He highlights the resource’s potential to enhance domestic ammonia production in the U.S., especially in light of recent global supply chain disruptions.
However, the path forward is not without challenges. Critics, including the Hydrogen Science Coalition, caution that current geologic hydrogen discoveries provide less energy than a single wind turbine and raise concerns about environmental impacts during extraction. Despite these hurdles, Johnson remains optimistic, stating that Koloma’s strong financial backing enables the company to address challenges thoughtfully and effectively, paving the way for a new era in clean energy.
